Microsoft’s Xbox 360 gaming console has given the company a good foothold in the living room, but the company apparently isn’t content with that and wants to increase traction with a new lower-cost device, the Verge reports. According to “multiple sources,” the blog says Microsoft will offer a streamlined media device that provides access to TV and entertainment services, as well as casual gaming software titles. This device would be one half of a strategy that also includes next-generation Xbox hardware, the report claims, to be launched in 2013. Read the full story at TechCrunch.